The rise of popularity in cryptocurrency has seen creative ways that the currency is being adopted into your everyday life for your convenience and to further prove that you can use crypto on a daily basis. The latest adoption of cryptocurrency in the citizens of Thailand’s lives is in the entertainment industry.
Major Cineplex, the biggest movie theater chain in Thailand, is developing a crypto payment system. The platform is being developed in collaboration with Swiss Payment Company called Rapidzpay.
The company has currently listed 143 theaters in Thailand with 43 of them being in Bangkok. Additionally, Major Cineplex also owns 678 screens with a plan of increasing the number to 1,000 before 2020. The group has Thailand’s largest theater called Paragon Cineplex which has 16 screens and 5000 seats. Furthermore, it has an IMAX theater.
Rapidz point-of-sale system is set to accept fiat as well as cryptocurrency payments to allow for maximum flexibility and security. There has been no confirmation on what cryptocurrencies will be accepted through Rapidzpay sales system at the theaters, but Rapidzpay already accepts Bitcoin, Bitcoin Cash and Litecoin on their app, so it is likely that these will be accepted at Major Cineplex theaters as well.
The Thai Securities and Exchange Commission currently allows regulated trade of
Major Cineplex’s director of marketing Chanya Tamrongweenichai stated:
“With RapidzPOS and the RapidzPay mobile app, you’ll be able to buy any services and products from us, such as movie tickets, popcorn and other different products with cryptocurrency.”
RapidzPay’s memorandum of understanding (MoU) with Major Cineplex follows the Swiss firm’s own expansion with a new office in Bangkok earlier this month.
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